oldschool CxC

Friday, July 06, 2007

Breakup Letter, Dramatic reading (beware that the audio auto-plays when you load the page)

Damn this had me rolling, but then again I'm easily amused.

Monday, July 02, 2007

The average person, he says, has four biases about economics—four main areas in which he or she differs from the economic expert. The typical noneconomist does not understand or appreciate the way markets work (and thus favors regulation and is suspicious of the profit motive), dislikes foreigners (and thus tends to be protectionist), equates prosperity with employment rather than with production (and thus overvalues the preservation of existing jobs), and usually thinks that economic conditions are getting worse (and thus favors government intervention in the economy). Economists know that these positions are irrational, because the average person actually benefits from market competition, which provides the best product at the lowest price; from free trade with other countries, which (for American consumers) usually lowers the cost of labor and thus the price of goods; and from technological change, which redistributes labor from less productive to more productive enterprises.